Chinese Regulators Clamp Down on Stores Hiking Prices Before Singles' Day Shopping Festival
Xu Wei
/SOURCE : Yicai
Chinese Regulators Clamp Down on Stores Hiking Prices Before Singles' Day Shopping Festival

(Yicai Global) Nov. 2 -- China's State Administration for Industry and Commerce has ordered local industry and commerce authorities and market regulators to tighten up e-commerce supervision in order to ensure online shoppers are protected during the country's Singles' Day shopping festival, which officially takes place on Nov. 11.

The administration asked departments to take preventative measures, ramp up supervision, maintain market order and protect consumers' legal rights and interests in line with the law, it said today.

The SAIC requires local authorities to ensure online promoters and operators adhere strictly to the law, for example by offering unconditional product returns within seven days. Platforms should also release advance information about online promotions and standardize rules for purchase deposits and coupons.

The e-commerce firms are prohibited from conducting false advertising or engaging in otherwise fraudulent activities, such as discounting unavailable goods, and should not sell counterfeit goods or raise prices before discounting products. They may also not display terms and conditions that violate consumers' legal interests, engage in fictitious transactions, announce fraudulent sales volumes, restrict competition, degrade competitors or exclude operators from participating in promotion activities organized by other platforms.

Member firms of the Inter-Ministerial Joint Meeting for Network Market Supervision formed a task force to oversee special actions for e-commerce supervision in some provinces and cities this year. These members include the SAIC, National Development and Reform Commission, Ministry of Industry and Information, Ministry of Public Security, Ministry of Commerce, General Administration of Customs, General Administration of Quality Supervision, Inspection and Quarantine, China Food and Drug Administration, Central Internet Security and Informatization Leading Group and State Post Bureau.

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Keywords: Singles' Day , State Administration For Industry And Commerce , REGULATION , E-COMMERCE , Online Retail